On the morning of September 30, Prof. Stefan Korioth from the Faculty of Law at the University of Munich, as the guest speaker for the Peking University Law School Global & Comparative Law Series, delivered a lecture titled "Constitutional Limits on Public Debt ('Debt Brake') – A Good Recipe for Curbing Government Over-Borrowing?". The lecture was hosted by Zhang Xiang, Tenured Professor of Peking University Law School. Participants in the discussion included Zuo Yilu, Tenured A.P. of Peking University Law School; Liu Zhixin, Associate Research Fellow at the Institute of Law, Chinese Academy of Social Sciences; Wu Xunxiang, Assistant Professor of Peking University Law School; Tian Wei, Assistant Professor of Renmin University of China Law School; and Wu Liangjian, Lecturer at China University of Political Science and Law School of Law.

Prof. Korioth provided a systematic overview of Germany's two-century tradition of constitutional debt rules, analyzing their historical evolution, structural challenges, and the role of the Federal Constitutional Court. He concluded that the frequent amendments and numerous exceptions to the "debt brake" have rendered it largely symbolic, potentially undermining democratic culture, public finance, and constitutional authority. He then engaged in in-depth discussions with the attending scholars on comparative perspectives from China and Europe.

At the end of the lecture, Prof. Zhang Xiang concluded by stating that Germany's constitutional debt rules reflect the tension between law and reality, and differences in national systems reflect diverse political cultures and historical backgrounds, with intergenerational justice and democratic principles being at the core of the debt issue. Subsequently, Prof. Zhang Xiang, on behalf of Peking University Law School, presented Prof. Stefan Korioth with a lecture commemorative certificate.

Translated by: Wu Haocong

Edited by: Jiang Yajie